Financing India's green future

'Green investments must therefore compete with brown (non-green) investments to find large markets and generate attractive returns', says the author

Our green future requires massive funding. Currently, we are moving ahead of our target of reducing 33-35 per cent emissions intensity of 2005 gross domestic product (GDP) before 2030. This target stems from our COP 21 Paris 2015 commitments and is leading to a lower carbon development pathway for India. However, there are many other even lower carbon pathways (including Net-Zero emissions by mid-century) that India needs to consider. Each of these development pathways entail enormous financing requirements. This financing will include vast amounts of (a) commercial (purely financial returns-driven) capital, (b) impact (both financial and social returns- driven) capital,